IN BRIEF: International Biotech highlights deal for investee Apogee
International Biotechnology Trust PLC - invests in biotechnology companies - Notes announcement that investee company Apogee Therapeutics is to be acquired by AbbVie Inc. Apogee shareholders will receive USD135.11 per share in cash at closing. As at close of business on Friday, Apogee represented around 0.41% of IBT's net asset value. IBT Portfolio Managers Ailsa Craig and Marek Poszepczynski say: "The biotech M&A boom shows no signs of slowing, with deal flow running ahead of last year's pace. The latest deal represents the seventh acquisition within the IBT portfolio in 2026 so far, compared to three acquisitions at the same stage last year, with the total value of the companies acquired also up 9%. This demonstrates the success of our investment strategy." Read More